Willmott announces boost to sales and dealer network
Agribusinessgroup Willmott Forests has surpassed its 2001/02 end of financial year sales result of $7 million, with under two months left to run until the end of the 2002/03 financial year.
Willmott Forests managing director Marcus Derham says fundraising activities will continue through to the end of June and that the group’s directors anticipate sales to increase even further over the remaining period.
“The achievement of exceeding last year’s sales results, well before the traditional June end of financial year rush, can be attributed to the expansion of our dealer network and enhanced product range,’’ Derham says.
Derham adds that Willmott has doubled its dealer network in the last two years, and is currently in communication with more dealer groups in the hope of further expanding its distribution.
He says Willmott chooses not to deal with just any dealer group, but those that will be using its products in the right way, and adds that the company will be looking to also expand in the institutional side of the market.
Derham expects the company’s success will increase due to a recent vertical integration, which has seen it become a “cradle to the grave forest manager”, with control of the entire supply chain from softwood tree planting to the processing and distribution of its products.
The company has been working towards this strategy for over five years. Durham says that by taking the company away from “the whims of others” it will reduce the risk of the company’s growers by providing certainty of returns, as well as their timing.
For the six months to December 31, 2002, the company reported a net profit after tax of $3.5 million, up 413 per cent on the 2001/02 financial year result.
This result came on the back of revenue of $10.9 million, up by 113 per cent on the last financial year.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
